Nifty futures were trading 84.50 points or 0.56 per cent higher at 15,242.50 on Singaporean Exchange, indicating a gap-up start for BSE Sensex and Nifty 50 on Monday. In the post Union Budget 2021 week, headline indices posted nearly one per cent gains. According to the analyst, Nifty has to hold above 15050 to continue its bullish momentum towards 15250-15500 while on the downside major support can be seen around 15000-14850. “From the long term perspective, the structure of the market remains constructive and one can apply buy on dips strategy,”said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
Stocks in focus today
ONGC takes leaf out of Reliance’s book, floats subsidiary to buy own gas
Stocks in focus: ITC, Titan, Magma Fincorp, SBI, PNB, Bank of India, Coal India, Ashok Leyland
Stocks in focus: Bharti Airtel, Vodafone Idea, Titan, Eicher Motors, Tata Steel, Future Retail
Jet Airways: A total of 23 BSE-listed companies including Jet Airways, CDG Petchem, Emmsons International, Eureka Industries, Hawa Engineers, Hindustan Everest Tools, JIK Industries, Sunraj Diamond Exports, Vishvprabha Ventures and Vantage Knowledge Academy, among others are slated to announce their quarterly earnings on February 15.
BPCL: Prime Minister Narendra Modi on Sunday that the Propylene Derivative Petrochemical Project (PDPP) of Bharat Petroleum Corporation Ltd will strengthen the journey towards an Aatmanirbhar Bharat. He said that the project will save foreign exchange and also help in employment generation.
Bharti Airtel, Voda-Idea: Telcos are likely to bid conservatively at the spectrum auctions in March. Based on the deposits of Reliance Jio, Bharti Airtel and Vodafone Idea, the total amount bid would be around Rs 86,290 crore, and going by the upfront payment that the operators would make, the government would be able to realise around Rs 43,145 crore.
Vodafone Idea: Vodafone Idea has narrowed its net loss to Rs 4,540.8 crore for the October-December 2020 quarter. The company had reported a net loss of Rs 7,203.4 crore in the preceding July-September period.
DHFL: Dewan Housing Finance Corporation posted a net loss of Rs 13,095 crore in the third quarter (Q3FY20). The company had posted a net profit of Rs 934 crore in the year-ago quarter.
ONGC: Oil and Natural Gas Corporation (ONGC) is forming a new subsidiary for the gas business that could be used to bid and buy gas from the firm’s own fields. The board of ONGC at its meeting on February 13 approved creation of a new wholly-owned subsidiary company for gas and liquefied natural gas (LNG) business value chain subject to necessary approvals, according to the firm’s third-quarter earnings announcement.